Red Lobster has a new CEO and is focused on possible restructuring through Chapter 11 bankruptcy, according to Bloomberg.

“Last year, Red Lobster reported $11 million in operating losses following its flubbed ‘Ultimate Endless Shrimp’ deal, which backfired when it reeled in too many customers after the limited-time promo became a permanent menu fixture last June. The restaurant chain later reported $12.5 million in losses in the fourth quarter of 2023.”

  • @[email protected]English
    5•7 months ago

    They always had the perception of expensive for me. So growing up, they were a special occasion place to get seafood. I’ve been a few times in the last few years. Their food was good, but not great and the places were never packed.

    Between Red Lobster and almost any other seafood place, the other one would win out for taste and quality.

    They had a huge marketing issue, offering “cheap” all you can eat, but making the place look and try to feel like a upscale option when it was basically a seafood Applebee’s.

    • @[email protected]English
      2•7 months ago

      It’s like Panera or Olive Garden. Just boring flavorless food that is only attractive to people who don’t know better.